Category Archives: Brokerage

American Academy of Pediatrics’ new headquarters of the future

0 CommentsBy

Since the American Academy of Pediatrics’ headquarters opened more than 30 years ago, the organization has experienced unprecedented growth. Membership has grown by more than 250 percent to 66,000 members, and total staff has increased from 125 to 455 people. AAP tapped JLL in early 2014 to craft a strategic real estate plan for its new “headquarters of the future.”

Click below for our Project Profile on AAP,  an organization committed to the optimal physical, mental and social health and wellbeing for all infants, children, adolescents and young adults.

American Academy of Pediatrics

We explored expansion and restacking AAP’s existing Elk Grove Village building, purchase of a new building and a ground-up build-to-suit. After touring downtown and suburban sites, it became clear that a build-to-suit was the best choice for AAP’s unique needs. Hamilton Lakes Business Park in Itasca offered proximity to AAP’s valued employee base and future expandability.

As owner’s rep, we facilitated the acquisition of the land site, due diligence and entitlements, as well as the hiring of all project partners. The team worked through the approval process with the Village of Itasca regarding site layouts and engineering, traffic impact and local intersection improvements to help traffic flow.… Read More

mHUB CEO Haven Allen talks manufacturing innovation

1 CommentBy


Welcome to Episode 12 of Real Time, JLL Chicago’s industrial podcast. In the first half of this two-part episode, the team learns more about mHUB, Chicago’s first innovation center for physical product development and manufacturing. As mHUB approaches its one-year anniversary celebration in March, CEO Haven Allen reflects on:

  • Creating mHUB to cement Chicago’s status as an advanced manufacturing hub
  • Finding mHUB’s home in River West
  • Attracting and developing talent for Industry 4.0
  • Early success stories, like Fixer

Hosted by: Industrial market research experts George Cutro and Chad Buch

Listen to this podcast with the player above or click here.

Post to LinkedIn | Podcast archives | Subscribe

Recorded at: Coda Room Audio
Read More

Why tech employers are freaking out about the Chicago market

0 CommentsBy

tech employment

While unlimited soup, salad and breadsticks is a universal truth at any Olive Garden, an unlimited supply of engineers is not a guarantee in a hot tech market like Silicon Valley. That’s why the most agile and bottom-line-minded tech firms have turned to Chicago to find their next tech talent, whether their need is a half dozen or several hundred of the best and brightest.

“We want to tap into the Chicago market. We’re excited about the tech talent there—the new grads, people returning home because it’s such a livable city,” Foursquare senior vice president of engineering Matt Kamen recently told Crain’s Chicago Business.

While Foursquare is starting to hire just a half-dozen engineers locally, enterprise demand for its location data underscores a high-growth and more diversified future for the New York-based business. Foursquare looked at other up-and-coming markets, from Toronto to Austin, but we can guess one big reason Chicago won—tempered wage growth.… Read More

Where to snag Class A space at a $20 PSF discount

0 CommentsBy

Class A

On the heels of Black Friday and Cyber Monday, we’re here with an office space discount you have to see to believe. In the last five years, the gap between top-tier downtown and suburban space has dramatically widened, creating interesting opportunities for occupiers looking for luxury.

Since 2012, Class A rents have increased just 7.4 percent in the suburbs, compared with more than 27 percent downtown. For even the smallest tenants, this represents six-figure savings that could be reallocated to other business priorities, from talent retention to technology upgrades.… Read More

This is what happens when office space imitates art

0 CommentsBy

Donna Mondi had a vision for her 16-year-old interior design firm—a new office and showroom that would bring her team under one roof and reflect their design sensibilities and expert capabilities. Her unexpected inspiration? The industrial chic office set from The Intern, a 2015 comedy starring Robert De Niro and Anne Hathaway.

Enter JLL. “I know that property,” said Christine Bower, Vice President on JLL’s Tenant Representation team.

Click below for our Project Profile on Donna Mondi Interior Design, creator of spaces that are edgy yet sophisticated, modern yet classic, sexy, dynamic and most of all— unpredictable.

Donna Mondi

It wasn’t in River North, where Donna originally wanted to be, and there was no Starbucks in sight (a necessity for Donna and her team). We encouraged Donna and her husband Dominick Mondi, President of Mesirow Financial, to take a look. They took a tour and fell in love. It wasn’t the center of Fulton Market, but it checked every other box.

Knowing the Mondis’ interest in acquiring an income-producing, value-add property, we quickly facilitated the sale for $1.8 million (fortuitously closing the day of the Cubs’ 2016 World Series win). Built in the 1890s, the West Town light- industrial building was a former furniture factory. Donna invested $350,000 to convert the first floor into her company’s new home. The second floor will soon become available for the first time in 20 years, allowing for additional income generation. The space is perfect for a creative tenant craving high ceilings, hardwood floors, original skylights and huge windows.

Read More

Retail therapy draws tenants to suburban Class A product

0 CommentsBy

Shopping on your lunch hour never gets old. Especially in the suburbs, where the live/work/play perks of urban density are in short supply. Suburban malls offer the opportunity to run errands during lunch, while also conveniently supporting a wide array of business amenities such as restaurants and event space for everyday meetings and larger corporate gatherings.

Across suburban Chicago, Class A office properties within a mile of a major mall are outperforming their competition in three out of four major suburban submarkets. While the area around Woodfield Mall appears to be flagging, JLL Research attributes that to Zurich’s relocation and expects occupancy to soon mirror the strength of its peers.

suburban ChicagoRead More

This office will make you drop everything and move to the suburbs

0 CommentsBy

The suburban office market is changing in response to two notable trends. While many corporate users have vacated their longtime campuses for the allure of the live/work/play life downtown, others are recommitting to the suburbs and collaborating with creative landlords.

Click below for our Project Profile on Innovation Park, Lake County, where industry meets inspiration.

Innovation Park

When office park innovator BECO Management acquired the former Motorola Mobility campus in Libertyville in 2014, it fused both trends, creating an urban environment within a suburban landscape. After buying at a low basis and kicking off a large-scale redevelopment, the D.C.-based investor recently chose JLL to market Innovation Park, Lake County.

BECO built it, and we’re making sure they come. As dozens of brokers tour the property each month, the most common reaction is “I had no idea.” With services from meals to daycare and fitness to laundry, employees never have to leave. The productivity implications are profound. Nowhere else can your day include an on-site massage, team bonding in the game room and soaking up sun on the bike path. We’re telling a singular story, and two major tenants have already signed on: Valent Biosciences (98,000 s.f.) and Brightstar (65,000 s.f.).

Read More

Commuting in the suburbs: A SWOT analysis

0 CommentsBy

In a market as large as suburban Chicago, getting to work can be around the corner or a major undertaking. Our Research team recently completed a suburban SWOT analysis, determining the top three modes of transportation used to get to the office in each submarket. Roll over each submarket below for the details.

Strength: Public transit

Public transportation, from the L to the Metra, has been a boon to several… Read More

Culture commandments from Google, Paylocity, ABT and Andigo

0 CommentsBy

“Culture eats strategy for breakfast.” –Peter Drucker

As the nature of work continues to change dramatically, the technology available to us, services we offer our employees and the spaces we create are evolving as well. A focus on experiences is driving the future of workplace culture, which was the topic of conversation last week at the Schaumburg Business Association’s Commercial Real Estate Summit – The Future of Work.

Our own Senior Vice President Mark Kolar and National Workplace Consulting lead Ed Nolan hosted a panel of workplace experts from both established and rapidly growing buzzworthy brands: Google HR Business Manager Jacky Schiestel; Paylocity VP of Human Resources Jay Schedler; ABT Electronics Co-President Mike Abt; and Andigo COO Jean Theis. Enjoy their culture commandments as inspiration to make bold changes in your own workplace.


JLL’s Adam Pines and Mark Kolar; ABT’s Mike Abt; Andigo’s Jean Theis; Paylocity’s Jay Schedler; JLL’s Ed Nolan; SBA’s Kaili Harding; and Google’s Jacky Schiestel

Just say yes

ABT doesn’t have an employee manual, but for more than 80 years and three generations, the founding family has been instilling a culture of “yes.” Employees quickly learn to take on any reasonable request from a customer, which infuses the store with positive energy and optimism.… Read More

Overheard at NAIOP CRE Converge 2017: Top trends and takeaways

0 CommentsBy

We were on the scene at NAIOP CRE Converge today, and the common theme was the inevitability of technology and its increasing influence on the commercial real estate industry and beyond. In addition to a podcast recap from our hosts of Real Time, JLL Chicago’s Industrial podcast, we’ve pulled together top future-state tech trends.

Listen to this podcast with the player above or click here.

Post to LinkedIn | Podcast archives | Subscribe

Autonomous vehicles

How will autonomous vehicles impact parking requirements and more fundamentally, how we view space? With blockchain technology and macro integration of data, we will be able to view individual properties and sections of cities and towns. Consider the city a body and all the external factors (autonomous vehicles, social norms, etc.) organs. In order to understand how the body functions, you need to have a grasp on each organ and how they interrelate, and technology will help us do that. Eventually that will lead to smarter decision-making when constructing, leasing, managing and selling.… Read More

Two million-square-footers in I-80?!

0 CommentsBy

industrial stats

Welcome to Episode 8.5 of Real Time, JLL Chicago’s industrial podcast. In this episode, the team previews the Chicago market’s third quarter industrial statistics, breaking down everything from vacancy and absorption to investment sales and intermodal traffic. The highlights:

  • Vacancy’s up, but the good news is it’s due to spec deliveries
  • Two million-square-footers going up in I-80 – that’s never happened before!
  • A million-square-foot deal remains elusive this year, but things are ramping up post summer slowdown
  • Intermodal traffic is up, which is a positive sign for big box demand

Keep your eyes peeled for a detailed submarket report in the coming weeks!

Hosted by: Industrial market research experts George Cutro and Chad Buch

Listen to this three-minute podcast with the player above or click here.

Full Q3 2017 Research report here.

Post to LinkedIn | Podcast archives | Episode transcriptRead More

Project Profile: Readerlink build-to-suit

0 CommentsBy

Print sales are hot, with the industry seeing its third straight year of sales growth in 2016. In fact, distribution networks require more sophistication than ever as booksellers strive to meet the immediate and highly specialized demands of their customer bases.

Click below for our Project Profile on Readerlink, the largest full-service distributor of hardcover, trade, and paperback books to nontrade channel booksellers in North America.


Identifying the Salt Lake City area as the consolidation of its Western U.S. distribution network, Readerlink tapped the JLL team to identify a hub facility. With nothing existing on the market, our Build to Suit Practice Group assembled a cross-functional team, from financing experts to project management pros, to assess the viability of a build-to-suit assuming a long-term lease and Readerlink’s credit.

Building a 500,000-square-foot distribution center in the middle of a brutal Salt Lake City winter is challenging enough. Making the entire process financially viable while shifting delivery and budget risk (including winter conditions) onto the developer and landlord was critical.… Read More

Location, location…logistics: On the road at RidgePort Logistics Center

0 CommentsBy

RidgePort Logistics Center

Welcome to Episode 8 of Real Time, JLL Chicago’s industrial podcast. In this episode, our team hit the road for the topping off of Building Charlie, the latest spec project at RidgePort Logistics Center in Wilmington:

  • Ridge Development Executive Vice President Aaron Martell tells us how the park came to be
  • Elion Partners Managing Principal Shlomo Khoudari shares his vision of a mixed-use destination with amenities unrivaled at any business park
  • JLL Managing Director Keith Stauber explains the stability of long-term park ownership
  • BNSF Railway Regional Manager of Economic Development Eric Pitcher reminds us why rail is key for any logistics network

Fast facts on RidgePort Logistics Center:

  • 2,200 acres capable of accommodating 22+ million square feet of industrial development
  • Nearly 150,000 square feet of commercial development on its way
  • Located at the intersection of I-55 and Lorenzo Road in Wilmington
  • Rail-served on the BNSF transcontinental main line
  • Proximity to the largest inland container port in North America

Hosted by: Industrial market research experts George Cutro and Chad Buch

Listen to this podcast with the player above or click here.

Post to LinkedIn | Podcast archives | Episode transcriptRead More

Headquarters quiz: Five clicks to your new crib

0 CommentsBy

Since 2008, downtown Chicago has attracted 88 suburban and 13 out-of-market companies, of which 32 have been headquarters relocations. If your company is thinking of making the move or you’re just curious about new neighborhoods, take this headquarters quiz and land on the best submarket for your team!


Read More

Attaining Triple Aim: How healthcare can leverage real estate

0 CommentsBy

triple aim

In today’s capital-constrained environment with shrinking reimbursements from insurance companies, health systems are rethinking their business models by rethinking their real estate footprint.

“Bold, sweeping changes are a mandate for today’s health systems,” said JLL Senior Managing Director Greg Gerber. “Especially in competitive markets with numerous high quality systems vying for market share and operating at a high complexity level.”

Created by the Institute for Healthcare Improvement in 2008 as a roadmap toward value-based care, the “Triple Aim” has three mandates: improving patient experience, improving health of populations and reducing per capita cost of care. We explored the challenges, opportunities and surprising role real estate plays in each area with our Healthcare Practice Group.

Improving patient experience

In an outcomes-driven, performance-based reimbursement model, patient experience is critical and convenience is key. Locating facilities “closer to home” for patients is a surefire way hospitals can expand patient access and optimize their real estate footprint, reinvesting the savings in their core services.

“On the hospital campus, you’re talking about high-cost acute care. By taking healthcare into the community, you are reducing costs and making it easier for patients to stay proactive and healthy,” said Senior Vice President Sarah Cogswell.… Read More

Solar eclipse markets outperform national averages

0 CommentsBy

Chicago may not fall in the path of totality on Monday, but we’re still excited to witness this historic solar eclipse. In anticipation, we reviewed office vacancy rates and rent growth in “eclipse markets” and were impressed to see most markets outshining national averages.

solar eclipse

Dig into our latest Chicago market office stats here.

Why move your headquarters? Top CEOs speak out

0 CommentsBy

While corporate real estate strategies are definitely one-size-fits-one, headquarters relocations seem spurred by surprisingly similar reasons. We wouldn’t call this kind of groupthink a bad thing, rather a natural reaction to a global demographic shift. You can’t ignore more than one million people moving into cities every week.

We analyzed the corporate press releas es associated with Chicago’s 32 headquarters relocations since 2008, paying close attention to quotes from each CEO. These leaders have waxed philosophic, strategic, straight up practical and everything in between in their commentary, offering a glimpse into larger pushes for organizational change and innovation.

Our word cloud above sizes words based on how frequently they’ve been used by CEOs. Roll your mouse over each word to see a sample quote and we’ll dig into the top reasons for moving below.… Read More

The MTV Generation grows up: Generation X as CEO

0 CommentsBy

“A person should not believe in an -ism, he should believe in himself.” –Ferris Bueller

Generation X grew up unsupervised, independent and decidedly anti-establishment. This small, often overlooked cohort entered the corporate world with little fanfare but a wildly different attitude, shirking preconceived notions of work and traditional business dogmas.

Bringing an entrepreneurial mindset to Corporate America has been a major Gen X contribution, bolstered by fluency in technology, prioritization of work/life balance and a fierce pursuit of individuality. Now entering the leadership roles of the C-suite, this generation is the innovative force behind today’s workplace trends—especially their companies’ defining headquarters moves.… Read More

Cracking the code: Find your tech talent in Chicago

1 CommentBy

Looking to snag a computer programmer on sale? Chicago should be your startup’s tried and true market of choice, given its status as the rare, affordable, large urban market.

“Competition for tech talent, as well as good plug-and-play tech spaces, is fierce,” said Jesse Van Dyke, Managing Director and co-lead of JLL Chicago’s Technology Practice Group.

tech talent

Concentration of employees working in the computer field

The market’s tech ecosystem can be the best indicator of potential job growth and industry stability. Consider planting your tech flag in Chicago, a great location at a great price:… Read More

Top 10: Stop hating Mondays, your happiness at work matters

0 CommentsBy

Human Experience

Yesterday our Suburban Tenant Representation team hosted a webinar exploring the Future of Work and how Human Experience plays a critical role in shaping a productive culture. In other words, it pays for your company to invest in your satisfaction.

“Understanding real estate’s financial and operational performance is now table stakes,” said JLL Managing Director Ed Nolan. “How people feel about work plays a key role in promoting engagement, empowerment and fulfillment at the office.”

In the midst of tenants’ intense focus on reducing gross rent and utilities costs there lies a missed opportunity to harness human capital.

“Even minor improvements in employee productivity and retention can spur double-digit savings in costs per square foot and strategically drive real estate decisions,” said JLL Managing Director Ben Erskine.

Our top 10 webinar takeaways, based on 18 months of JLL research:… Read More